Sheela Foam Completes Fractional Share Sale Following Composite Scheme of Arrangement
Following the approval of a Composite Scheme of Arrangement by the National Company Law Tribunal (NCLT), Sheela Foam Limited announced the finalization of the share transfer process. The scheme involved the amalgamation of Kurlon Enterprise Limited (KEL) with Sheela Foam Limited and several other entities, including Belvedore International Limited, Kanvas Concepts Private Limited, Kurlon Retail Limited, Komfort Universe Products and Services Limited, and Starship Value Chain and Manufacturing Private Limited.The arrangement, which was approved by the NCLT, Mumbai Bench, led to the consolidation and allotment of fractional entitlements arising from the share exchange ratio to a Trust appointed by the Board.
The Trust proceeded to sell these consolidated shares in the open market on April 22, 2026.
The net sale proceeds generated from this transaction, after the deduction of applicable charges and taxes, will be distributed to the eligible shareholders of Kurlon Enterprise Limited. The distribution will be proportional to the respective fractional entitlements of those shareholders.
SFL Stock Price Movement
Sheela Foam Limited shares today slipped by 1.99% to close at ₹553.75. The equity traded a total volume of 82,009 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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